News and Press Releases

Update on the Proposed Refinancing and EGM

16 July 2014

Further to the announcement of 30 June 2014 (the "Announcement"), the Board can provide the following update on progress as regards to refinancing the existing credit facility with the Bank ahead of the EGM.

The 30 June 2014 forbearance agreement with the Bank has been executed by Hawker and Sefton as of 15 July 2014. Hawker continues to finance ongoing field operations with the expansion of their Subordinated Loan from $1.0 million to $1.5 million. The cyclic steam program in the Tapia field has been reactivated and is continuing to yield results.

The Board of Sefton wishes to encourage all shareholders who are unable to attend the EGM in person to vote their proxy, which must be received no later than 4.00 pm on 21 July 2014. If for some reason, you have not received the Circular or Form of Proxy, please contact Computershare at ! and the documents can be emailed to you. You can scan and email your voted proxy back to Computershare at !

For depository interest holders, the deadline for receipt of the Proxy is 4.00 pm on 18 July 2014. If you are an individual shareholder whose holdings are with a broker, you can request the forms be emailed to you by Computershare at ! and you can forward to your broker for voting.
The results of the EGM meeting will be announced immediately following its conclusion on 23 July 2014.

A copy of the Notice of EGM together with the Annual Report and Accounts is available on Sefton’s website at

(All definitions are as per the Announcement unless otherwise defined above.)

Visit or contact:

Keith Morris, Director  

Tel: 0207 448 5111

Nick Harriss, Nick Athanas, Allenby Capital (Nomad)

Tel: 0203 328 5656

Neil Badger, Dowgate Capital Stockbrokers (Broker)

Tel: 01293 517744